Northmarq’s Minneapolis office secures $13 million in acquisition financing for Shoreway Commerce Park
Shoreway Commerce Park
MINNEAPOLIS (Feb. 6, 2024) — Andy Finn, managing director of Northmarq’s Minneapolis Debt + Equity office, has collaborated with Mark Jeffries of the Denver office to finalize $12,998,000 million in acquisition financing for a 445,682-sq.ft. industrial facility in Cleveland, Ohio. Built in 1940 and renovated in 2010, the distribution/warehouse property is situated on 27.44 acres at 799 East 73rd Street.
Northmarq arranged financing on behalf of the borrower through its correspondent relationship with a life insurance company. The permanent fixed-rate loan was structured on a 3-year term with 2 years interest only followed by a 30-year amortization schedule.
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
